Here is a chart of the USD/JPY showing Fibonacci levels and wedged shaped, seemingly corrective price action. The chart below shows a zoom of the last few sessions. You can see price looks to be carving out a 5 wave move, which I expect will be a C leg and probably the final move in this correction before price drops further. As you can see the resistance line runs very close to the 61.8% Fib level. I will be looking to short from around this area with a stop at 91.30.
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